According to the online presence of Japanese daily Mainichi Shimbun, Kid has stopped all operations yesterday and filed for bankruptcy at the Tokyo district court today. Founded in 1988, Kid has been one of Japan's leading developers and publishers of console-based love adventures, including popular series such as Memories Off and Infinity. The Mainichi Shimbun reports that the Tokyo-based company defaulted on a debt of 530 million yen ($4.56 million USD). While the company has released PlayStation 2-based love adventures on a monthly basis throughout 2006, its titles experienced declining sales apparently due to the continued success of the DS in Japan.

Kid released a PlayStation 2 version of White Breath, F&C's critically acclaimed 2004 love adventure, on November 22nd in Japan. For 2007, the company had announced the releases of Memories Off 5 Encore and 12Riven. RPGFan will keep you posted on all developments regarding the future of Kid and its IPs.